The New York Stock Exchange, part of Intercontinental Exchange, Inc. (NYSE: ICE) and Korea Exchange (KRX), the securities exchange operator in the Republic of Korea, signed a Memorandum of Understanding (MoU) to collaborate on a set of key business activities for expanding access to global capital markets.
The NYSE Korea Exchange partnership is said to cover settlement cycle modernisation, extended trading hours, ETFs as well as market data and index products.
Lynn Martin, President, NYSE Group, shared,
“We are excited to formalize this collaboration and work on streamlining access to the world’s most liquid capital market for global investors.”
Eun-Bo Jeong, Chairman and Chief Executive Officer of Korea Exchange, added,
“This memorandum reflects the shared commitment of both exchanges to strengthening cooperation between two leading capital markets. We believe this collaboration will support the continued development and competitiveness of the capital markets in both countries.”
The collaboration will deploy the expertise of both exchanges to innovate across U.S. and Korean markets.
The exchanges may establish a NYSE-KRX Joint Collaboration Council to support the implementation of the memorandum’s goals.
Featured image edited by Fintech News Hong Kong based on an image by Lynn Martin on LinkedIn. Featured image credit for Eun-bo Jeong by KoreaWHO